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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a poor 38-51-152. The TSX Venture Exchange rose fractionally to 682 while polished diamond prices fell 0.2 per cent. Robert Gannicott's Dominion Diamond Corp. (DDC), $23.80 earlier this week, slumped $1.58 to $20.77 on 672,000 shares. It lost $1.27 yesterday on its first-quarter report that held few surprises, other than it expected a ho-hum second quarter that would be bolstered by a strong finish to 2015. Alexander Stewart's Xmet Inc. (XME) closed unchanged at two cents on 1.85 million shares. Xmet had been promoting its Blackflake West graphite just west of a deposit in Northern Ontario discovered three years ago by Zenyatta Ventures Ltd. (ZEN: $1.63). An Xmet drill program failed to hit graphite and lately, Mr. Stewart has been talking up the metals potential of the play.

Patrick Evans's Kennady Diamonds Inc. (KDI), unchanged at $5.25 on 7,000 shares, has another two impressive drill hits at Kelvin, a promising Kennady North kimberlite, 10 kilometres northeast of Gahcho Kue in the Northwest Territories. These are the fifth and sixth holes of a 20-hole program at Kelvin. The company says one of the six tests encountered significantly more kimberlite than expected while the five others "confirmed the geological model." In other words, the two latest holes produced what was expected since the first test of the program produced 187 metres of kimberlite compared with the modelled 107 metres. After that intersection Mr. Evans said the additional kimberlite would "positively impact the Kelvin tonnage estimate." That estimate, which is actually expressed as a range of estimates to conform to regulatory requirements, currently sits at between 10 million and 13 million tonnes.

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